Question 3

5 Points

Statement of Cash Flow

For Year Ended December 31, 20XX

Sales		$398,500
Less: Sales discount	$0
Sales Returns and Allowances	(994)	(994)
Net Sales		Blank 1
Cost of Goods Sold		(177,000)
Gross Profit		Blank 2
Operating Expenses
Selling Expenses
Depreciation Expenses-Store Equipment	(9000)
Rent Expenses-Leased Equipment	(16,000)
Total Selling Expenses	($25,000)
General Administrative Expenses
Depreciation Expense-Building	(10,000)
Total General and Administrative Expenses	($10,000)
Total Operating Expenses		Blank 3
Income from Operations		$185,506
Other Revenue and Gains (Expenses and Losses)
Interest Expense		(27,650)
Other Operating Expenses		(34,200)
Income Tax Expenses		(30,914)
Total Other Revenue and Gains (Expenses and Losses)		Blank 4
Net Income		Blank 5

• Blank 1
• Blank 2
• Blank 3
• Blank 4
• Blank 5